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Eti Maden

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Eti Maden
Native nameEti Maden İşletmeleri Genel Müdürlüğü
Company typeGovernment-owned corporation
IndustryBorate minerals mining and refining
Founded1935
HeadquartersAnkara, Turkey
RevenueIncrease ₺26.17 billion (2023)
Operating incomeIncrease ₺16.27 billion (2023)
Net incomeIncrease ₺14.48 billion (2023)
Total assetsIncrease ₺47 billion (2023)
Total equityIncrease ₺42.06 billion (2023)
Websitehttp://en.etimaden.gov.tr/

Eti Maden is a Turkish state-owned mining and chemicals company focusing on boron products. It holds a government monopoly on the mining of borate minerals in Turkey, which possesses 72% of the world's known deposits. In 2012, it held a 47% share of global production of borate minerals, ahead of its main competitor, Rio Tinto Group, which held 23%.

In 2012, it was the forty-first largest industrial company in Turkey, with an annual revenue of $850 million.

It was founded in 1935 as Etibank, a bank created to finance Turkish natural resource extraction; in 1993, the company's banking activities were privatized, and its mining activities separated under the name Eti Holding A.Ş. In 2004, the company was restructured again and named Eti Mine Works.

Its subsidiaries include AB Etiproducts OY, a Finland-based company which distributes Eti Mine Works products in Scandinavia, Eastern Europe, Russia, Central Asia, and Africa. Bandırma Borax owns one of the small coal-fired power stations in Turkey.

Ab Etiproducts Oy

In 1982, Ab Etiproducts Oy was established by the Finnish mining multimetal Outokumpu group and Etibank. In 1993 Outokumpu's share was transferred to Etimine SA, sister company of Ab Etiproducts Oy, responsible for the marketing of Turkish boron products in western Europe. In 2005, Ab Etiproducts Oy established a subsidiary company Etiproducts Llc, in Russia.

The company presently operates in Scandinavia (Finland, Sweden, Norway), the Baltic states (Estonia, Latvia, Lithuania), the African Continent, Moldova, Ukraine, Belarus, Russia, CIS countries.

Warehouses are located in the Baltic and Black Sea Region regions.

Products

This section needs to be updated. The reason given is: https://www.aa.com.tr/en/analysis/analysis-lithium-revolution-and-turkey-s-potential-in-energy-sector/2138714. Please help update this article to reflect recent events or newly available information. (February 2021)

Boron minerals and refined products include:

Colemanite
  • Boric Acid (Granular and Powder) (Normal - Low - Ultra Low Sulphate) (Nuclear Grade)
  • Boron Oxide (Granular and Powder)
  • Etibor-48 (Disodium Tetraborate Pentahydrate)
  • Borax Deca (Disodium Tetraborate Decahydrate)
  • Etibor-68 (Disodium Tetraborate Anhydrous)
  • Etidot-67 (Disodium Octaborate Tetrahydrate)

Natural Boron Minerals:

  • Colemanite (Ground, Granular, Compacted, Concentrated)
  • Ulexite
  • Tincal

References

  1. Şebnem Önder; Ayşe Eda Biçer; Işıl Selen Denemeç (September 2013). "Are certain minerals still under state monopoly?" (PDF). Mining Turkey. Archived from the original (PDF) on 3 March 2016. Retrieved 21 December 2013.
  2. "Turkey as the global leader in boron export and production" (PDF). European Association of Service Providers for Persons with Disabilities Annual Conference 2013. Archived from the original (PDF) on 3 March 2016. Retrieved 18 December 2013.
  3. Aydin Albayrak (21 January 2013). "Top Eti Maden official: Boron represents not only cash but also potential". Today's Zaman. Archived from the original on 19 December 2013. Retrieved 18 December 2013.
  4. "Turkey's top 500 industrial enterprises: 2012". Istanbul Chamber of Industry. Archived from the original on 19 December 2013. Retrieved 18 December 2013.
  5. Eti Mine Works, About Eti Maden Archived 2013-12-19 at the Wayback Machine
  6. "Enerji Piyasası Veritabanı Yönetim Sistemi". lisans.epdk.org.tr. Archived from the original on 2021-07-16. Retrieved 2021-01-12.
  7. "Home". etimine.com.
  8. "About Us". Archived from the original on 2014-01-11. Retrieved 2014-01-11.
  9. "Eti Mine Works General Directorate Annual Report 2011" (Press release). Eti Maden G.M. Corporation. 1 February 2012.
  10. "Eti Maden İşletmeleri". Archived from the original on 2014-01-11. Retrieved 2014-01-11.

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